# Islet Management, LP

> Islet Management, LP is an SEC-registered investment advisory firm in New York, NY, registered since 2017, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 7, 2026.

- CRD: 290576
- Filed as: ISLET MANAGEMENT, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: April 7, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/290576
- AdvisorCensus page: https://advisorcensus.com/firm/islet-management-lp-new-york-ny-290576

## Quick answers

**How is Islet Management, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Islet Management, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Islet Management, LP located?**
Islet Management, LP's principal office is in New York, NY, according to its Form ADV.

**Is Islet Management, LP registered with the SEC or a state?**
Islet Management, LP is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 290576.

**How much does Islet Management, LP manage?**
Islet Management, LP reports $108,805,629 in regulatory assets under management in its Form ADV filing dated April 7, 2026 (100% discretionary).

**How have Islet Management, LP's assets and staff changed since 2021?**
In the Form ADV data for Islet Management, LP: Regulatory assets under management: $1,367,089,822 in the October 2021 data and $108,805,629 in the October 2026 data, down 92%. Total employees: 11 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Islet Management, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Does Islet Management, LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/290576

**Does Islet Management, LP state an account minimum?**
Its Form ADV Part 2A brochure dated March 11, 2026 says: "Islet has no established minimum account size for client accounts."

**What changed in Islet Management, LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 5 to 3. Regulatory assets under management went from $89,562,625 to $108,805,629 (+21%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 11, 2026)

- Account minimum: None

> Islet has no established minimum account size for client accounts.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $108,805,629
- Discretionary: $108,805,629
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Not reported | $0 |
| High net worth individuals | Not reported | $0 |
| Banking or thrift institutions | Not reported | $0 |
| Investment companies | Not reported | $0 |
| Business development companies | Not reported | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $108,805,629 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Not reported | $0 |
| Charitable organizations | Not reported | $0 |
| State or municipal government entities (including government pension plans) | Not reported | $0 |
| Other investment advisers | Not reported | $0 |
| Insurance companies | Not reported | $0 |
| Sovereign wealth funds and foreign official institutions | Not reported | $0 |
| Corporations or other businesses not listed above | Not reported | $0 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2017 (8 years)
- Employees: 4 total, 3 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- isletcapital.com
- LinkedIn @islet-capital-managemet

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,367,089,822 | 11 | July 1, 2021 |
| October 2022 | $2,396,539,866 | 13 | September 14, 2022 |
| October 2023 | $137,984,521 | 7 | May 16, 2023 |
| October 2024 | $28,752,799 | 7 | March 28, 2024 |
| October 2025 | $89,562,625 | 7 | March 10, 2025 |
| October 2026 | $108,805,629 | 4 | April 7, 2026 |

Regulatory assets under management: $1,367,089,822 in the October 2021 data and $108,805,629 in the October 2026 data, down 92%.
Total employees: 11 in October 2021 and 4 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 5 to 3.
- Regulatory assets under management went from $89,562,625 to $108,805,629 (+21%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Islet Management, LP (CRD 290576): Form ADV filing data as of October 2026.